Recent data from the Reserve Bank of Australia (RBA) on the Australian non-bank financing sector alluded to the fact that businesses are continuing to turn to non-bank providers for funding. As evidenced in the graph below, the non-bank share of business credit is trending upwards.

Whilst Polen Capital, our investment partner in global equities, has been operating since 1979, manages 15 underlying investment strategies, has U. S. $65 billion in funds under management, and over 250 staff world-wide, it is fair to say it is not yet a household name in Australia. Montgomery partnered with U. S.

The long-awaited quarterly consumer price index (CPI) figure was reported this week. Over the March quarter, CPI rose by 1. 0 per cent, which follows the previous 0. 6 per cent December quarter increase. Over the 12 months to March 2024, CPI rose by 3. 6 per cent.